Sonoco Products Company $SON Shares Acquired by Ethic Inc.

Ethic Inc. lifted its position in shares of Sonoco Products Company (NYSE:SON) by 6.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,539 shares of the industrial products company’s stock after purchasing an additional 670 shares during the period. Ethic Inc.’s holdings in Sonoco Products were worth $506,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC acquired a new stake in shares of Sonoco Products during the first quarter worth about $820,000. Principal Financial Group Inc. increased its position in shares of Sonoco Products by 0.5% during the first quarter. Principal Financial Group Inc. now owns 226,179 shares of the industrial products company’s stock worth $10,685,000 after purchasing an additional 1,044 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new stake in shares of Sonoco Products during the first quarter worth about $232,000. World Investment Advisors acquired a new stake in shares of Sonoco Products during the first quarter worth about $1,347,000. Finally, Raymond James Financial Inc. increased its position in shares of Sonoco Products by 11.0% during the first quarter. Raymond James Financial Inc. now owns 136,553 shares of the industrial products company’s stock worth $6,451,000 after purchasing an additional 13,479 shares in the last quarter. Institutional investors and hedge funds own 77.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SON. Raymond James Financial reissued a “market perform” rating on shares of Sonoco Products in a report on Friday, October 17th. Citigroup lowered their price target on Sonoco Products from $56.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, September 29th. UBS Group lowered their price target on Sonoco Products from $50.00 to $46.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. Truist Financial lowered their price target on Sonoco Products from $58.00 to $57.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Finally, Jefferies Financial Group lowered their price target on Sonoco Products from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $54.50.

Sonoco Products Price Performance

Shares of SON opened at $40.13 on Wednesday. Sonoco Products Company has a twelve month low of $39.13 and a twelve month high of $53.22. The stock’s 50 day moving average is $44.12 and its two-hundred day moving average is $44.93. The firm has a market capitalization of $3.96 billion, a PE ratio of 6.37, a P/E/G ratio of 0.72 and a beta of 0.68. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 1.14.

Sonoco Products (NYSE:SON) last announced its quarterly earnings data on Wednesday, June 22nd. The industrial products company reported $1.00 earnings per share for the quarter. Sonoco Products had a return on equity of 20.49% and a net margin of 8.82%.The company had revenue of $1.35 billion for the quarter. Sonoco Products has set its Q2 2022 guidance at $1.60-$1.70 EPS. Research analysts anticipate that Sonoco Products Company will post 6.1 earnings per share for the current year.

Sonoco Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Monday, November 10th. Sonoco Products’s payout ratio is currently 33.65%.

Sonoco Products Company Profile

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.